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Diploma in Islamic Finance

The Islamic financial services industry is one of the fastest growing industries worldwide.  Currently, there are more than 250 Islamic banks and financial institutions operating internationally in Muslim and non-Muslim countries.  This figure rose from £ 5 billion in 1985, growing at a yearly rate of 20%.  However, on the other hand, the number of universities offering specialized Islamic finance programs at the graduate level is limited.

The Diploma provides students with an in-depth introduction to Islamic finance. Students will become familiar with Shari'ah rules and the teachings of Islam as related to finance and economics. Graduates will possess a sound understanding of Shari'ah rulings, and broaden their knowledge of finance literature and of modern financial transactions and instruments.

Admission Requirements

• A solid background in mathematical, statistical, and econometric techniques^*
• Relevant work experience is not mandatory but will be considered an asset

For further requirements please see the General Admission Requirements for Graduate

*Students who do not meet this requirement may be requested to take the program's pre-requisite courses

Structure

• Total of 6 courses (18 credit hours), 3 core courses (9 credit hours) and 3 electives (9 credit hours). 
• Choice between two routes (1) Asset Management; and (2) Auditing      
• Optional continuation toward master's degree if admission criteria for the MSc are satisfied

Course Details

Pre- requisites:

• Mathematics for Business and Finance
• Statistical Techniques for Finance and Economics
• Principles of Banking and Finance
• Introduction to Fiqh

Core Courses:

• Objectives of Shari'ah
• Islamic Financial Contracts
• Islamic Banking and Finance: Theory and Practice

Specialization Courses:

Asset Management Route:

• Islamic Capital Markets and Institutions
• Risk Management in Islamic Finance
• Asset Management

Accounting and Auditing Route:

• Governance of Financial Institutions
• Legal and Regulatory Issues in Islamic Banking and finance
• Accounting and Auditing